Oliver Curtis, the husband of socialite publicist Roxy Jacenko, has secured a multi-year deal with OpenAI, the creator of ChatGPT, to provide compute capacity for its artificial intelligence models. The agreement positions Curtis's Sydney-based company, Firmus Technologies, for what could be the largest Australian Securities Exchange (ASX) listing of the decade.
Firmus Technologies, founded by Curtis and his cousin Tom Rosenfield in 2019, is set to expand its data center capacity to 900 megawatts across Australia, Malaysia, Singapore, and Indonesia. The company provides the essential physical infrastructure, including powerful computer chips, that AI companies use to train their models and operate services like ChatGPT.
This deal with OpenAI is part of a series of agreements Firmus has made with major AI players, including Nvidia and Meta. As the company prepares for its ASX debut, it is anticipated to be valued at up to $30 billion.
The news of Firmus's significant achievements comes nine years after Curtis's release from prison. He was granted parole after serving 12 months of a two-year sentence for conspiracy to commit insider trading. His conviction in June 2016 stemmed from his involvement with confidential information provided by his former school friend, John Joseph Hartman.
Hartman, an equities dealer at Orion Asset Management, had access to non-public information about the company's planned large share trades. The court found that Hartman shared this information with Curtis on 45 occasions between May 2007 and June 2008. Curtis then used these tips to execute trades before Orion's planned market movements, illicitly profiting approximately $1.4 million with Hartman. The proceeds were reportedly spent on luxury items and extensive travel.
Curtis, who was 30 at the time of his conviction but committed the offenses at age 21, and Hartman, who served 15 months of a jail sentence starting in 2010, were childhood friends from the elite Saint Ignatius' College Riverview. The pair's friendship reportedly soured over financial matters and Curtis's gambling habits even before their legal troubles came to light.
An investigation by the Australian Securities and Investments Commission (ASIC) into suspicious trading activity on Hartman's account in August 2008 ultimately led to the freezing of his assets and his subsequent confession to investigators. During Curtis's 2016 trial, his wife, Roxy Jacenko, submitted a letter to the court emphasizing his role as the primary caregiver for their children.
Firmus Technologies currently operates data centers in Australia, with one site located in St Leonards, Launceston, Tasmania. The company plans to have an additional five sites operational by the end of 2028.
Curtis made his debut on The Australian's 'Richest 250' list this year, with an estimated net worth of $1.29 billion.